Some theory and an approach to solving sequential multiple-criteria decision problems

Research output: Contribution to journalArticleScientificpeer-review

Researchers

Research units

  • University of Jyväskylä
  • Arizona State University

Abstract

This paper examines a sequential multiple-criteria decision problem. The problem arises when a decision-maker is unable to consider all possible decision alternatives simultaneously. The decision-maker evaluates only a subset of all decision alternatives, from which he chooses the most preferred solution. Obviously, this solution is not necessarily ‘globally’ best. An interesting question is: how good is the most preferred solution and what are the chances of finding a better solution by considering additional alternatives? A unified approach to solving this problem based on probability theory is presented and illustrated with numerical examples.

Details

Original languageEnglish
Pages (from-to)501-508
Number of pages8
JournalJournal of the Operational Research Society
Volume37
Issue number5
Publication statusPublished - 1986
MoE publication typeA1 Journal article-refereed

    Research areas

  • Multiple-criteria decision-making, Probability theory, Sequential decision-making

ID: 9891372